Tag: Kenichiro Yoshida

  • Ravi Ahuja to replace Tony Vinciquerra as president & CEO at Sony Pictures Entertainment

    Ravi Ahuja to replace Tony Vinciquerra as president & CEO at Sony Pictures Entertainment

    MUMBAI: Now here is another executive of Indian descent taking on the top leadership position in a global company. Ravi Ahuja, who was Sony Pictures Entertainment’s (SPE’s) chairman of global television studios and SPE president & COO will take over as the company’s president & CEO effective 2 January 2025. He will replace SPE’s current CEO  Tony Vinciquerra who will remain in an advisory role for SPE as non-executive chairman until the end of December 2025.

    Ahuja will report to Sony group chairman &  CEO Kenichiro Yoshida and Sony group  president, COO &  CFO Hiroki Totoki. The announcement was made Sony Group Corp and  SPE today.

    “The extraordinary turnaround at SPE over the last 10 years would not have been possible without Tony’s deep experience and expertise in the entertainment space, his strategic vision and his outstanding leadership,” said Yoshida. “Under Tony’s watch, SPE became a critically important part of our efforts to maximize the value of our IP and find synergies across all our entertainment and technology businesses, and it remains a key driver in Sony group’s ongoing corporate strategies to lean further into the creative and entertainment spaces. I want to thank Tony for his years of dedication and leadership at SPE, and for his invaluable support across the group companies during his successful career at Sony.”

    Yoshida continued, “Since joining SPE in 2021, Ravi has been at the center of Tony’s leadership team, navigating the unprecedented challenges of today’s media and entertainment environment and positioning SPE for further growth. Ravi brings with him years of experience from his time at some of the world’s most successful entertainment companies, and we look forward to working more closely with him in his new role as president & CEO of SPE.”

    Vinciquerra joined SPE in June 2017, and has led the company’s dramatic turnaround with five consecutive years of increasing profit by strengthening of SPE’s film slate, reimagining SPE’s television businesses, and with aggressive M&A in key growth areas, such as anime with the acquisition of Crunchyroll in 2021.

    Vinciquerra’s strategic decisions to divest most of SPE’s international cable networks as that market began to deteriorate, and to not jump into the overcrowded streaming space with a general entertainment streaming service, has kept SPE profitable during a time of unprecedented industry change.

    In recent years, Vinciquerra led SPE through some of the entertainment industry’s most challenging events such as the COVID-19 epidemic and the historic combined SAG-AFTRA and WGA strikes of 2023, events which brought television and film production to a standstill. Despite these unprecedented events, SPE remains in a
    very strong and competitive position among its industry peers.

    “When I stepped into this role seven and a half years ago, I would’ve never imagined the extraordinary industry disruption and opportunity we’d face,” said Vinciquerra. “I’m filled with immense gratitude for this exceptional company and its profound legacy in Hollywood history. I’m consistently inspired by my brilliant and resolute colleagues. Together, against the odds, we achieved remarkable success and have consistently proven that this is a community built on passion and resilience. Thank you for making these past seven and half years the most gratifying of my career. My sincere appreciation goes to Kazuo Hirai for offering me this opportunity in 2017, and to Kenichiro Yoshida and Hiroki Totoki for their leadership and unwavering trust and support over the years. I have the utmost confidence that SPE will continue to thrive in the years ahead and know that Ravi is the right leader to take SPE forward.”

    Ravi Ahuja joined SPE in 2021 to oversee all production businesses for Sony Pictures Television (SPT) and the studio’s India business as chairman of global television studios. SPT and its production companies produce several award-winning and acclaimed television series including The Crown, The Boys, Gen V, Cobra Kai, Better Call Saul, The Last of Us, Outlander, For All Mankind, The Night Agent, Twisted Metal, The Wheel of Time, S.W.A.T., The Good Doctor, Wheel of Fortune, Jeopardy!, Shark Tank, American Idol, So You Think You Can Dance, 90 Day Fiancé, Octonauts, SuperKitties, and many more.

    Since joining SPE, Ahuja has also overseen SPE’s M&A activities, including the acquisitions of award-winning nonfiction entertainment company Industrial Media, leading UK production company Bad Wolf and VFX company, Pixomondo, as well as the sale of GSN Games to Scopely. 

    Prior to joining SPE, Ahuja was president of business Operations &  CFO of Walt Disney Television. Prior to that he was in positions of increasing authority, including CFO, at the Fox Networks group, and Virgin Entertainment group.

    “It is my privilege and honor to take the helm at SPE,” said Ahuja. “This is a special place — an iconic studio with an extraordinary 100-year history of storytelling. Thanks to Tony’s remarkable leadership, we have leading businesses with clear strategies and are set up for even greater success in the years to come. I am energized by the opportunities ahead and am lucky to work alongside thousands of talented colleagues around the world at SPE and at our Sony sister companies. I am grateful for Tony’s mentorship, guidance and friendship through the decades, and I thank Yoshida-san and Totoki-san for entrusting me with this important role.”

    Ahuja’s ascendancy to the top role at SPE comes at a time when there has been a change in leadership at Sony Pictures Networks India with NP Singh stepping down as CEO after a long successful stint and Star India executive Gaurav Banerjee taking up the role.

     

  • Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    BENGALURU: Sony Corporation’s (Sony) CFO Kenichiro Yoshida said at the investors meet, “In order to expand our businesses outside the US, primarily in India, we are taking various measures to grow including M&A.”

    Sony plans to turnaround the Pictures (Film and Television business) Division that incurred a loss of ¥106.8 billion) for the quarter ended 31 December 2016 (Q3-17, current quarter). The loss was because by an impairment loss of goodwill to the extent of ¥112.1 billion (about $962 million at the applicable exchange rates at the time. For Q3-16, the division had reported an operating profit of ¥20.4 billion.

    Sony’s Pictures segment reported a 14.1 percent decline in sales and operating revenue from ¥225.2 billion from 262.1 billion due to lower sales of Motion Pictures offset by the higher sales of Television Production business.

    As a part of the turnaround, Sony says it will pursue new sales channels and movie merchandising opportunities. The impairment charge resulted from a downward revision in the future profitability projection for the Motion Pictures business within the Pictures segment.

    The downward revision of goodwill was primarily due to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline. Underlying profitability projections of film performance were also reduced, but the adverse impact of that reduction is expected to be largely mitigated by measures that have been identified to improve the profitability of the Motion Pictures business says the company.

    Overall, Sony reported a 7.1 percent year-on-year (y-o-y) decline in sales and operating revenue for Q3-17 at ¥2,397.5 billion as compared to ¥2,580.8 billion. The company says that the decline was primarily due to the impact of foreign exchange rates. On a constant currency basis, sales were flat y-o-y due to improved performance by its Games and Network Services (G & NS) division which was partly offset by the poor performance of its Mobile Communications segment.

    Net income attributable to Sony’s shareholders’ declined to less than a sixth (declined by 83.7 percent) in the current quarter to ¥19.6 billion from ¥120.1 in the corresponding year ago quarter. The decline was primarily attributable to the impairment loss incurred by its Pictures division.

    Sony’s Mobile Communication division reported a massive 35.3 percent y-o-y decline in operating and sales revenue in Q3-17 to ¥248.6 billion from ¥384.5 billion. Operating income declined 12.1 percent y-o-y in the current quarter to ¥21.2 billion from ¥24.1 billion.

    The G & NS division reported a 5.2 percent (15 percent on a constant currency basis) y-o-y increase in Q3-17 in sales and operating revenue to ¥617.7 billion from 587.1 billion. Higher sales of PlayStation4 software and PlayStation VR which was launched in October 2016 contributed to the growth. The G & NS division reported 24.5 percent increase in operating income in the current quarter to ¥50 billion from ¥40.2 billion.

    Sony’s Imaging Products and Solutions (IP & S) division reported a 9.6 percent y-o-y decline in sales and operating revenue in Q3-17 revenue to ¥167.1 billion from ¥184.8 billion. Operating income of the segment declined 7.5 percent y-o-y in the current quarter to ¥22.1 billon from ¥22.8 billion. The company attributes the declines to forex fluctuations and a change in its product mix for the division.

    Home Entertainment and Sound (HE & S) division reported a 12.1 percent y-o-y decline in Q3-17 to ¥353.3 billion from ¥402 billion in sales and operating revenue. The company attributes the declines to forex fluctuations and a decline in home audio and video unit sales due to a contraction of the market.

    Operating income of the HE & S division declined 16.7 percent y-o-y in Q3-17 to ¥25.9 billion from ¥31.2 billion.

    Sony’s Semiconductors division reported a 16.9 percent y-o-y increase in sales and operating revenues in Q3-17 to ¥233.9 billion from ¥200 billion. The division’s operating income increased 27.6 percent y-o-y in the current quarter to ¥27.2 billion from ¥21.3 billion.

    Components division reported 10.3 percent y-o-y decline in Q3-17 in sales and operating revenue at ¥51.4 billion from ¥57.3 billion. Operating loss of the segment in the current quarter reduced to ¥3.7 billion from ¥32.7 billion.

    Sony’s Music division reported a 1.8 percent decline in sales and operating revenue in the current quarter to ¥178.5 billion from ¥181.8 billion. The decline was due to the appreciation of the yen against the US dollar and lower Recorded Music sales. Operating income of the segment increased 2.4 percent to ¥28 billion from ¥27.3 billion.

    Sony’s Financial Services division reported 0.9 percent y-o-y decline in revenue in Q3-17 to ¥319.1 billon from ¥322 billion. Operating income of the division declined 44.5 percent y-o-y in the current quarter to ¥29 billion from ¥52.2 billion.

  • Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    Sony to expand TV business in India; forex and mobile segment dull Q3-17 numbers

    BENGALURU: Sony Corporation’s (Sony) CFO Kenichiro Yoshida said at the investors meet, “In order to expand our businesses outside the US, primarily in India, we are taking various measures to grow including M&A.”

    Sony plans to turnaround the Pictures (Film and Television business) Division that incurred a loss of ¥106.8 billion) for the quarter ended 31 December 2016 (Q3-17, current quarter). The loss was because by an impairment loss of goodwill to the extent of ¥112.1 billion (about $962 million at the applicable exchange rates at the time. For Q3-16, the division had reported an operating profit of ¥20.4 billion.

    Sony’s Pictures segment reported a 14.1 percent decline in sales and operating revenue from ¥225.2 billion from 262.1 billion due to lower sales of Motion Pictures offset by the higher sales of Television Production business.

    As a part of the turnaround, Sony says it will pursue new sales channels and movie merchandising opportunities. The impairment charge resulted from a downward revision in the future profitability projection for the Motion Pictures business within the Pictures segment.

    The downward revision of goodwill was primarily due to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline. Underlying profitability projections of film performance were also reduced, but the adverse impact of that reduction is expected to be largely mitigated by measures that have been identified to improve the profitability of the Motion Pictures business says the company.

    Overall, Sony reported a 7.1 percent year-on-year (y-o-y) decline in sales and operating revenue for Q3-17 at ¥2,397.5 billion as compared to ¥2,580.8 billion. The company says that the decline was primarily due to the impact of foreign exchange rates. On a constant currency basis, sales were flat y-o-y due to improved performance by its Games and Network Services (G & NS) division which was partly offset by the poor performance of its Mobile Communications segment.

    Net income attributable to Sony’s shareholders’ declined to less than a sixth (declined by 83.7 percent) in the current quarter to ¥19.6 billion from ¥120.1 in the corresponding year ago quarter. The decline was primarily attributable to the impairment loss incurred by its Pictures division.

    Sony’s Mobile Communication division reported a massive 35.3 percent y-o-y decline in operating and sales revenue in Q3-17 to ¥248.6 billion from ¥384.5 billion. Operating income declined 12.1 percent y-o-y in the current quarter to ¥21.2 billion from ¥24.1 billion.

    The G & NS division reported a 5.2 percent (15 percent on a constant currency basis) y-o-y increase in Q3-17 in sales and operating revenue to ¥617.7 billion from 587.1 billion. Higher sales of PlayStation4 software and PlayStation VR which was launched in October 2016 contributed to the growth. The G & NS division reported 24.5 percent increase in operating income in the current quarter to ¥50 billion from ¥40.2 billion.

    Sony’s Imaging Products and Solutions (IP & S) division reported a 9.6 percent y-o-y decline in sales and operating revenue in Q3-17 revenue to ¥167.1 billion from ¥184.8 billion. Operating income of the segment declined 7.5 percent y-o-y in the current quarter to ¥22.1 billon from ¥22.8 billion. The company attributes the declines to forex fluctuations and a change in its product mix for the division.

    Home Entertainment and Sound (HE & S) division reported a 12.1 percent y-o-y decline in Q3-17 to ¥353.3 billion from ¥402 billion in sales and operating revenue. The company attributes the declines to forex fluctuations and a decline in home audio and video unit sales due to a contraction of the market.

    Operating income of the HE & S division declined 16.7 percent y-o-y in Q3-17 to ¥25.9 billion from ¥31.2 billion.

    Sony’s Semiconductors division reported a 16.9 percent y-o-y increase in sales and operating revenues in Q3-17 to ¥233.9 billion from ¥200 billion. The division’s operating income increased 27.6 percent y-o-y in the current quarter to ¥27.2 billion from ¥21.3 billion.

    Components division reported 10.3 percent y-o-y decline in Q3-17 in sales and operating revenue at ¥51.4 billion from ¥57.3 billion. Operating loss of the segment in the current quarter reduced to ¥3.7 billion from ¥32.7 billion.

    Sony’s Music division reported a 1.8 percent decline in sales and operating revenue in the current quarter to ¥178.5 billion from ¥181.8 billion. The decline was due to the appreciation of the yen against the US dollar and lower Recorded Music sales. Operating income of the segment increased 2.4 percent to ¥28 billion from ¥27.3 billion.

    Sony’s Financial Services division reported 0.9 percent y-o-y decline in revenue in Q3-17 to ¥319.1 billon from ¥322 billion. Operating income of the division declined 44.5 percent y-o-y in the current quarter to ¥29 billion from ¥52.2 billion.